ABSTRACT
The relevance of conventional models of economic development to Saudi Arabia can be debated. In the 1970s and 1980s there was an assumption that the economy was simply resource-based, and rentier in nature, with economic growth or contraction dependent on the price and output of oil.1 The uniqueness of the economy was stressed, and it was viewed as atypical of developing countries; indeed, many questioned whether the country could even be classified as 'developing'. This issue still remains a matter of controversy, as in the kingdom's negotiations to join the World Trade Organisation some of the difficulties have centred on whether the country should be categorised as 'developing' or 'developed'.
